Answered: how demand can be estimated in a…

Business

Marketing

how demand can be estimated in a market.

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter6: Target Markets: Segmentation And Evaluation

Section: Chapter Questions

Problem 2DYMP

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Concept explainers

Financial decisions

Financial decisions are important choices that individuals and businesses make about how to use their money. Financial decisions can impact a person or company's short-term and long-term financial stability. Decisions like whether to save, invest, or spend money, whether to take on debt or what kind of insurance to purchase, are some common financial decisions. Decisions on how to manage risks, such as the risk of losing money if investments do not perform as expected or the risk of not having enough money saved for retirement, are also a part of financial decision-making.

Question

QUESTION TWO

One major reason for undertaking marketing research is to identify market opportunities. Once the research is complete, the company must measure and forecast the size, growth, and profit potential of each market opportunity.

With regards to the above information examine how demand can be estimated in a market.

Research activities performed to discover the the needs and preferences of consumers and potential consumers. It examines target markets, target audiences, consumer interests, customer feedback, market environment, competitors' positions, etc.. Market research also includes the techniques to develop, launch, and make successful products and services in the market .

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